• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

China's export shock is pushing the global economy to a breaking point, and the U.S. may have to clean up the mess, former trade official says

2

Kevin O'Leary says if you earn $68,000 a year and follow this rule, you'll retire a millionaire

3

'Uncharted territory': The $40 trillion U.S. national debt just got uglier as interest payments rise to $1.25 trillion a year

1

China's export shock is pushing the global economy to a breaking point, and the U.S. may have to clean up the mess, former trade official says

2

Kevin O'Leary says if you earn $68,000 a year and follow this rule, you'll retire a millionaire

3

'Uncharted territory': The $40 trillion U.S. national debt just got uglier as interest payments rise to $1.25 trillion a year
FinanceInvestors Guide

Carl Icahn Gives Thumbs up to Lyft Funding

By
Stephen Gandel
Stephen Gandel
Down Arrow Button Icon
By
Stephen Gandel
Stephen Gandel
Down Arrow Button Icon
December 4, 2015, 12:04 PM ET
CNBC Events - Delivering Alpha 2015
CNBC EVENTS -- Pictured: Carl Icahn, Chairman, Icahn Enterprises, at the 2015 Delivering Alpha Conference on July 15, 2015 -- (Photo by: Adam Jeffery/CNBC/NBCU Photo Bank via Getty Images)Photograph by CNBC NBCU Photo Bank via Getty Images
Google source logo
Add Fortune on Google for similar content.

Lyft’s latest deal got the green light from one of its most powerful investors.

On Friday morning, Carl Icahn tweeted that he approved of a deal the ride-hailing company signed with GrabTaxi, Ola, and Didi Kuaidi, three rivals that operate in Asia. The deal will allow Lyft to tap the drivers and other resources of those foreign rivals in their home countries. The coalition also means that those companies could use Lyft’s drivers when their customers are in the U.S. Didi is the leading ride-hailing app in China. Ola operates in India, and GrabTaxi is based in other parts of Asia, including Singapore and Thailand. The New York Times called the deal the anti-Uber coalition.

Very happy about this transaction: https://t.co/KruoDGnAQ1

— Carl Icahn (@Carl_C_Icahn) December 4, 2015

The partnership could give a boost to Lyft, which is trying to raise $500 million at a $4 billion valuation. Lyft is much smaller than its U.S. rival Uber, as are the other companies that Lyft is hooking up with. Uber operates in 67 countries.

Icahn invested $100 million in Lyft in May. At the time, the company was valued at $2.5 billion. Icahn, the former corporate raider turned activist investor, is not known for investing in private startups. But at the time of his investment, he said that backing Lyft was a “tremendous bargain” to its much larger rival.

That is still the case. Uber is in the process of raising an additional $2.1 billion in a deal that would give the company a valuation of $62.5 billion.

About the Author
By Stephen Gandel
See full bioRight Arrow Button Icon
Google source logo
Add Fortune on Google for similar content.

Latest in Finance


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Finance


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.